LOAN EXTENSION AGREEMENT (English Translation)
Exhibit
10.3
(English
Translation)
This
is
an agreement between the following parties:
Party
A:
Feng-xxxx Xxxxx
Party
B:
Perfectenergy (Shanghai), Ltd.
The
parties hereto enter into this agreement voluntarily, after friendly
negotiations, to enable Party B to borrow money from Party A, as
follows:
| 1. |
To
address Party B’s cash flow issue, Party A loaned Party B Two Million RMB
on September 5, 2006, to be repaid on March 4, 2007. Per the business
needs of Party B and mutual negotiations, the parties hereto agree
to
extend the repayment date to July 4, 2007.
|
| 2. |
The
parties hereto agree that interest is five percent per
annum.
|
| 3. |
Payment
of interest: Party B will pay interest to Party A on a monthly basis
pursuant to the above term.
|
| 4. |
The
parties hereto agree to resolve any disputes amicably.
|
| 5. |
This
agreement will be in two originals, with each party holding one. This
agreement will be effective upon the parties’ signatures and
stamps.
|
|
Party
A: Feng-xxxx Xxxxx
|
Party
B: Perfectenergy (Shanghai), Ltd.
|
|
Signature:
|
Signature:
|
|
Stamp:
|
Stamp:
|
|
Date:
3-4-2007
|
Date:
3-4-2007
|
